Moderna stock drops after FDA vaccine chief resigns
Moderna shares fell 10% in premarket trading Monday morning after reports that the Food and Drug Administration’s vaccine chief, Peter Marks, resigned from the agency on Friday.
In his resignation letter, which was obtained by STAT, Marks said he was unable to quell Health and Human Services Secretary Robert F. Kennedy Jr.’s concerns about the safety of common childhood vaccinations. “It has become clear that truth and transparency are not desired by the Secretary, but rather he wishes subservient confirmation of his misinformation and lies,” Marks wrote.
Moderna still makes most of its revenue from COVID-19 vaccines. Novavax, another American vaccine maker, fell 14%.
Kennedy, a vaccine cynic, has questioned the safety of vaccines and now runs an agency tasked with containing diseases. It was previously reported that HHS is considering clawing back its $590 million grant to Moderna to develop a bird flu vaccine.
Moderna still makes most of its revenue from COVID-19 vaccines. Novavax, another American vaccine maker, fell 14%.
Kennedy, a vaccine cynic, has questioned the safety of vaccines and now runs an agency tasked with containing diseases. It was previously reported that HHS is considering clawing back its $590 million grant to Moderna to develop a bird flu vaccine.
